Tuesday, June 12, 2012

Tax News for Our Military: Scam Targeting Soldiers

This pic should help any troops overseas know how much we appreciate you! source

The Huffingtonpost has been on top of the tax scams this week, and I decided to inform our servicemen and women of a tax scam that could affect them!

This scam involves people impersonating Department of Defense representatives(right down to the .mil e-mail address) and try to get you to send your financial information to a location in Florida. The main way they get you is by telling you you're eligible for additional money from your disability compensation.

There is no such thing as easy money, and if it sounds too good to be true, it usually is. If you send off your information, the thieves will not only steal your identity, but clean out your bank accounts, use your credit cards, apply for things like loans and other military-exclusive benefits, along with things like additional credit cards an other services.

The end of the article includes a list of things to help reduce your risk of identity theft straight from the IRS's mouth:
  • Don’t carry your Social Security card or any document(s) with your SSN on it.
  • Don’t give a business your SSN just because they ask. Give it only when required.
  • Protect your financial information.
  • Check your credit report every 12 months.
  • Secure personal information in your home.
  • Protect your personal computers by using firewalls, anti-spam/virus software, update security patches, and change passwords for Internet accounts.
  • Don’t give personal information over the phone, through the mail or on the Internet unless you have initiated the contact or you are sure you know who you are dealing with.
There really is no limit to what these con artists and thieves will do to get your personal information. The military and those that dutifully serve our country would be the last people I would have expected to fall victim to these attacks. This just further proves that no one is safe from the tyranny of the weak and lazy.

I have to say that what you fine men and women do for our country on a daily basis is more than I can gratify in a mere paragraph or article on this blog. Your life is regularly put at risk so that people like these scammers can prey on others, and the fact that citizens take you guys for granted is the worst shame we face. I don't see how the thieves can sleep at night, knowing they're stealing from the very people that protect them from foreign and domestic threats, yet they feel entitled to take from those very souls that would lay down their lives for their country.

You great people are a precious commodity, and show great discipline and honor putting your own dreams and aspirations aside for the good of our country. I personally thank all of you and feel a great sense of honor to be a part of this great country and the great people that defend it and die for it. To everyone in our armed forces and military, we salute you and wish great prosperity to your families and wish all those overseas a safe trip home to be with those that love you.

Full article from The Huffington Post can be read here

When you file your online tax return, make sure it is with a reputable company, like Onlinetaxpros.com. We make it easy to file taxes online and as always, hope you have a fun and safe Summer and look forward to helping you e-file your income taxes!

Please leave a comment if you want to honor any of our soldiers, fallen or still with us. You may also tell us if you know about any other scams you know about to help raise awareness!

Please like us on Facebook: http://www.facebook.com/onlinetaxpros
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Monday, June 11, 2012

Electronic Tax Filing News Update: 2012 Tax Scams


Img Source
I noticed the most popular post on my blog was Electronic Tax Filing News Update: Cyber Criminals which has over one thousand views, much more than any of my other posts. This has led me to write again about raising awareness on your online saftey to make sure people know what to watch out for on the internet. This time I am covering Tax Scams and how they have become the biggest problem facing the IRS and you as a taxpayer.

 

The Dirty Dozen Tax Scams from IRS.gov

Here is a link to the IRS.gov site. They post a Dirty Dozen Tax Scams every year. Check it out for info on the most popular scams to watch out for, but with all the ways that people can scam each other, this list may not be all of them. It's always good practice to be extremely careful with your personal and tax information when filing taxes electronically.

Phishing and ID Theft Front Latest Tax Scams

First, I want to share with you a site I found called Scambusters.org. They are dedicated to keeping people safe from scams and post regularly on new methods people use to cheat you out of your hard-earned money. They posted about Phishing and ID scams as the latest Tax Scams, and give a very comprehensive list on what to watch out for. Check out this page to get the low-down and protect yourself! Phishing and ID Theft Front Latest Tax Scams from Scambusters.org
Here is an excerpt to show you just how cunning these scammers have become:
“Two of the big names in tax preparation have found themselves the target of tax scams in the countdown to the April 17 deadline (extended from the normal deadline of April 15) for filing returns.
Customers of both Intuit, producer of the market-leading Turbo Tax electronic tax preparation software, and H&R Block, the best-known name in brick-and-mortar tax preparation offices (as well as software) have fallen foul of a couple of mean but effective con tricks.

In addition, the IRS is warning of a big rise in the number of tax frauds in which crooks file false claims and pick up the rebates of their victims. “

Don't Scam Yourself!

finance.yahoo.com has released their own list: 5 Popular Tax Scams for 2012 and they list things that not only others may do to you, but what the IRS looks for whenever you file your own taxes, such as overvaluing charity and hiding income offshore. It's definitely worth a look to make sure you're not making mistakes that the IRS are very keen on.

No One Is Above or "Too Good" to Rip You Off

You might think that NFL football players wouldn't need to resort to scamming people since they make such high salaries, but you'd be wrong. This post from Huffingtonpost.com tells us about two former NFL players who were arrested for tax fraud! Here is a link to the article: William Joseph And Michael Bennett, Former NFL Players, Arrested For Tax Fraud.

In Closing

No matter what, make sure you do your research before you put any information on a website. There are so many greedy people out there who want your money at ALL costs. 

When you file your online tax return, make sure it is with a reputable company, like Onlinetaxpros.com. We make it easy to file taxes online and as always, hope you have a fun and safe Summer and look forward to helping you e-file your income taxes!

Please leave a comment if you know of any other tax scams that are not listed here so we can spread awareness!

Please like us on Facebook: http://www.facebook.com/onlinetaxpros
and follow us on Twitter: @onlinetaxpros